Copperbelt Energy Corporation Plc, Energy, MiningJune 9, 2020

Konkola Copper Mine parts company with Copperbelt Energy
Barely a fortnight after publishing its 2019-year end financial results which signaled the erosion of value due to impairments caused by its biggest mining customer, Copperbelt Energy Plc (CEC) has announced the end and non-renewal of its power supply contract with Konkola Copper Mine (KCM). “In accordance with Section 11.40 of the Lusaka Securities Exchange […]

Copperbelt Energy Corporation Plc, EnergyMay 27, 2020

CEC Plc reports erosion in 2019 earnings due to ‘MineCo’ impairment
Copperbelt Energy Plc has signaled to the market that it expects to record lower earnings for the financial year 2019 due to unpaid receivables from one of its largest mining customers, according to a statement from the company. “In accordance with the Lusaka Securities Exchange Limited Listings Requirements, the Board of Directors of the Copperbelt […]

Copperbelt Energy Corporation Plc, EnergyApril 18, 2020

CEC arbitration matter still ongoing despite end of BSA
CEC Plc has notified shareholders that the arbitration matter regarding outstanding amounts owed to ZESCO Limited is still ongoing despite the epilogue of the BSA on 31st March 2020, according to the latest SENS announcement from the company. “Shareholders are referred to the cautionary announcement, dated 27th September 2019, issued by the Board of Directors […]

Copperbelt Energy Corporation Plc, EnergyApril 3, 2020

An autopsy of the death of the CEC – ZESCO BSA
31 March 2020 was a day of high expectations in the energy and mining sectors. A big announcement which potentially would change the complexion of the two sectors in Zambia was being awaited. The proclamation that came however was received with mixed reactions by the players in the two sectors and the general public. Zesco […]

Copperbelt Energy Corporation Plc, EnergyApril 1, 2020

CEC announces the end of its 23-year power purchase contract with ZESCO
The Lusaka Securities and Exchange-listed supplier of electricity to the Copperbelt mining companies, CEC Plc, has announced the end of its long term power purchase agreement with the national electricity utility effective 31st March 2020 bringing an end to a 23-year-old contract that was signed at the pinnacle of the mining companies privatization, according to […]

Energy, Puma Energy (Z) PlcMarch 21, 2020

Puma underperforms despite expansionary strategy in 2019
Puma Energy Zambia Plc has reported a 5% fall in sales volumes for the financial year 2019 despite a sizable expansion budget, according to a statement from the company.   “For the year ended 31 December 2019, the Company recorded a profit after tax of K105,548 thousand compared to K115,133 thousand recorded in the previous […]

Energy, Puma Energy (Z) PlcMarch 8, 2020

Sidy resigns from Puma Board
Puma Energy Zambia Plc has announced the resignation of one of its Board Members, according to a statement from the company. “Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Puma Energy Zambia Plc (“the Board”) wishes to announce the resignation of Mr Sidy Bane as Director of the Board […]

Copperbelt Energy Corporation Plc, EnergyJanuary 4, 2020

CEC Zambia Plc signals acknowledgment to the ‘end of an era’
The only electricity generating company listed on the Lusaka Securities and Exchange has advised shareholders and stakeholders that the contract they have with national utility that provides it with the power it supplies both to domestic mining companies and exports to the Congo will be ending in March this year. CEC Plc which has prided […]

Energy, Puma Energy (Z) PlcNovember 26, 2019

Puma Energy Zambia Board announces Charmetant departure
Oil marketing company Puma Energy Zambia Plc has announced the resignation of Gregoire Charmetant as a director on the board, according to a statement from the company. “Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Puma Energy Zambia Plc (“the Board”) wishes to announce the resignation of Mr Gregoire […]

Economy, Energy, OpinionNovember 14, 2019

Mitigating the power deficit
–This article was originally published in Nkwazi Magazine It goes without saying that to ensure sustainable economic development, consistent electricity supply is necessary. While Zambia faces challenges in the provision of constant electricity supply, there are some signs of progress. An estimated 92 percent of the power generated in Zambia is hydroelectric, while the remainder […]